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- being (NASDAQ:Connecticut) may file for Chapter 11 bankruptcy in the coming weeks, as the furniture retailer grapples with losses and years of challenges integrating rival WS Badcock, which it acquired last year, people familiar with the matter told Bloomberg.
- The news pushed Kun (Kun)) Stock 31% decrease to $0.72 per share before the bell Tuesday. Shares have risen decreased by 77% YTD
- The bankruptcy plan has not yet been finalized and could change, the report said. male.
- CONN has struggled to stem mounting losses as customers cut back on discretionary spending amid rising inflation.
- The company had hired financial advisers to help it with its debt and operations, and had delayed filing its latest quarterly report with the Securities and Exchange Commission amid its efforts to refinance its revolving credit facility.